The CEO of Saudi Arabian oil giant Aramco on Monday pushed back against forecasts of peak oil demand, and said the narrative of the current energy transition was based on “unrealistic” assumptions and scenarios. Speaking at the World Petroleum Congress in Calgary, Aramco CEO Amin Nasser said talk of peak oil demand had come up … Read more
Saudi Aramco chairman and Governor of the Kingdom’s wealth fund Public Investment Fund, Yasir Al-Rumayyan, may be inducted on the board of , a precursor to a $15 billion deal, reports said. An announcement of Al-Rumayyan’s induction on the RIL board or the board of the newly carved oil-to-chemical (O2C) unit may come as early … Read more
Deal negotiations with Saudi Aramco expected to gather momentum from April. Synopsis As per the scheme of arrangement, RIL’s oil-to-chemicals business consisting of its refining and petrochemicals assets, fuel retail (51 per cent in a JV with BP) and bulk wholesale marketing businesses will get hived off into a step-down subsidiary, to be initially wholly … Read more
Oil company Saudi Aramco is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Aramco will review a $6.6 billion plan to add petrochemical output at its Motiva refinery in … Read more